Unilever Posts Stronger 1Q Underlying Sales

Unilever PLC reported stronger underlying sales for the first quarter, as it raised prices, while headline results were helped by currency volatility.

The Anglo-Dutch consumer goods group, whose brands include Dove soap and Ben & Jerry's ice cream, reported a 6.1% rise in revenue to EUR13.3 billion euros ($14.3 billion) for the quarter, up from EUR12.5 billion in the comparable period a year earlier.

Continue Reading Below

Underlying sales--which strip out the impact of foreign exchange volatility--grew by 2.9%, beating analyst estimates for growth of 2%.

Unilever's underlying sales in emerging markets increased by 6.1% in the first quarter, down from the 8.3% growth reported a year earlier. In developed markets, sales declined by 1.5%, a deterioration from the 0.3% fall seen a year earlier.

The results come as rival Nestle SA said its first-quarter revenue grew by 2.3% on an organic basis--which strips out the impact of currency volatility and acquisitions--but was roughly flat from a year earlier as the company struggled with sluggish consumer demand in the Americas.